Mahindra Lifespace Developers Banks On New Launches To Beat Rs 2,500-Crore Pre-Sales Guidance For FY25

Mahindra Lifespace Developers Ltd. is on track to surpass its Rs 2,500 crore pre-sales guidance for the fiscal 2024-25 on the back of new launches in H2, according to the company's Managing Director and Chief Executive Officer Amit Kumar Sinha.

Speaking to NDTV Profit, Sinha said that the company will continue the strong momentum seen in the first half of the current financial year in the remaining quarter of the current financial year.

"We had a 77% growth in the first half of this financial year compared to the first half of the preceding fiscal. So, good momentum. We have done some exciting launches in the early part of the year, which gave us momentum. The October-March period is also lined up with a few marquee launches in this financial year," he said.

Sinha revealed that the second phase of the Mahindra Vista project in Mumbai's Kandivali and the Codename Crown project in Pune is also coming up in the second half of the financial year—ending March 2025. The company is also working on multiple redevelopment projects in Mumbai, including one in the Navy Colony in Malad.

"Similarly, we have a host of other projects and new phases in Bengaluru, Mumbai, and Pune, and we will be launching these soon. We stated Rs 2,500 crore (pre-sales) for this financial year, but given the momentum that we have seen in H1, we are very confident that we'll be able to definitely surpass that guidance," Sinha added.

The top executive, however, refrained from giving any specific pre-sales figures.

Sinha further emphasised that Mahindra Lifespace Developers Ltd. is confident of achieving annual residential sales of Rs 8,000 crore to Rs 10,000 crore by March 2028.

"We did a total GDV addition of Rs 1,000 crore in FY20. FY24, we did a GDV addition of Rs 4400. So, just over four times. Already in this financial year, we are two or three times higher than that," he said.

Mahindra Lifespace Developers CEO added that the company is focused on creating a GDV pipeline in line with its goal to achieve the projected Rs 10,000 crore GDV.

"We are very disciplined about the deals we pursue. We are very prudent about all capital allocations. We have a very disciplined process to make sure we only do deals that meet our IRR threshold," he said.